Smith & Wesson Acquires Thompson/Center Arms
Smith & Wesson announced that it will acquire Thompson/Center Arms, a 40-year-old, privately-held maker of premium hunting firearms, for $102 million in cash. Thompson/Center Arms, headquartered in Rochester, New Hampshire, is the maker of Contender and Encore interchangeable firearm systems, muzzle-loading rifles, black-powder guns, and rimfire rifles. The purchase price for Thompson/Center Arms includes the company’s Rochester, New Hampshire facility, which produces all of the company’s products and is situated geographically between S&W’s manufacturing operations in Springfield, Massachusetts and Houlton, Maine.
Gregg Ritz, President and CEO of Thompson/Center Arms, will be named President of Smith & Wesson–Hunting. Ritz said, “This acquisition increases opportunities for both Smith & Wesson and Thompson/Center Arms. Smith & Wesson’s ability to provide capital for growth and expertise in lean manufacturing processes will provide critical support for our new product pipeline and our need for increased capacity based on strong customer demand. In turn, Thompson/Center Arms’ array of barrel manufacturing expertise, hunting rifle products, and accessories fits nicely into the Smith & Wesson portfolio of pistols, revolvers, shotguns and future hunting rifles.”
Read the full press release.